Standard Glass Lining Technology Limited has informed the Exchange about proposed acquisition of 51% equity share capital in M/s. C2C Engineering Private Limited, resulting in its becoming a subsidiary of the Company
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Standard Glass Lining Technology Limited (SGLTL) has signed a terms sheet to acquire 51% of the equity share capital of Chennai-based C2C Engineering Private Limited for a cash consideration of Rs. 12.24 crore. C2C Engineering provides design, detailed engineering, and EPC (Engineering, Procurement, Construction) services to clients in pharmaceuticals, chemicals, food, tyre, and paints industries, and has been in the industry for nearly 20 years. Its turnover was Rs. 2,011.18 lakhs in FY25, Rs. 1,074.03 lakhs in FY24, and Rs. 2,836.53 lakhs in FY23. Once the deal closes, C2C will become a subsidiary of SGLTL. The transaction is expected to be completed within 45 days and is not a related-party transaction, with no government approvals required.
The acquisition supports SGLTL's strategy of business expansion and diversification into end-to-end solutions for critical process industries, adding engineering consulting and EPC capabilities. For shareholders, this is a moderately positive move, bringing in synergistic benefits and new revenue streams, though the Rs. 12.24 crore cash outflow and integration risks will be watched closely by the market.